FRANKFURT (Reuters) - German fertilizer producer K+S AG SDFG.DE remains on the lookout for acquisitions while it is integrating its latest takeover in Canada, the group’s chief executive said on Thursday.
“If a good opportunity arises (in the potash market) we will assess it. But we have to concentrate very much on Potash One,” CEO Norbert Steiner told Reuters Insider TV.
K+S, whose domestic potash reserves will be depleted in about four decades, in November agreed to buy the Canadian holder of mining licenses Potash One KCL.TO and plans to invest about $2.5 billion in developing its projects.
Steiner also shrugged off uncertainty over whether Russia’s Andrei Melnichenko and his EuroChem fertilizer group will divest their stake in K+S after talks over a joint mine developing project failed.
“In that case our free float would rise and life at K+S would go on as before,” the CEO said.
There was no need to look for a new investor, he added.
K+S has said that Melnichenko holds slightly less than 14 percent in K+S.
Reporting by Ludwig Burger